The embattled UK retail industry was dealt another blow on Friday after news emerged that Arcadia is considering a restructuring process which could result in significant store closures and job losses.
Major London landlord Shaftesbury saw its portfolio value rising in the year to September as it shrugged off the wider UK retail downturn due to higher rents and its strength in areas such as Covent Garden and Carnaby.
The pensions of 9,000 employees of collapsed UK retail chain BHS were secured on Sunday after a specialist insurer announced an insurance buyout of the firm's 'BHS2' scheme covering 800 million pounds of liabilities.
In a shock move, the reborn BHS website is to close, despite reports of soaring sales. The brand is owned by the Qatar-based Al Mana Group which will now focus resources on its franchised international store business.